TOCM Rubber ** Increases Chinese Tire Production Increase
According to news from Tokyo on September 13, TOCM rubber futures closed up 0.6% on Monday, as crude oil futures prices continued to rise during Asian trading hours; and strong fundamentals continued to provide support for the market, China's August tire production increased 11.5 over the same period last year. %.
Tokyo analysts said that China and India have strong car sales, which is good for TOCOM rubber futures; and added that the yen's strong restrictions limit price increases. China and Japan are the world’s top two rubber consumer countries.
The benchmark February contract settled higher at 8.1 yen to 294.8 yen per kilogram, which is close to the intraday high of 295.6 yen.
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